Marara, the largest deep-waterfront estate on Pittwater, hit the market this week. For sale at more than $25 million, the 12,685-square-metre holding on Cabarita Road at Avalon has been listed by Peter Higgins, a co-founder of Mortgage Choice, and his wife, Rebecca, through LJ Hooker Avalon agents David Watson and Claudio Marcolongo.

The price of the property has been revised substantially since the couple had a crack at selling it with $40 million hopes in 2010.

During the past two years, the Higginses have obtained DA approval to demolish the main residence on the estate, which has six separate titles.

Marara, Pittwater's largest deep-waterfront estate, is listed at more than $25 million after a shot at $40 million bore no fruit.

They also have compiled a town planning assessment, which indicates medium-density development of 30 or more luxury waterfront villa residences (for people aged over 55, under the NSW government seniors living act) is a possibility for all or part of the site.

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When Higgins bought Marara for $15 million in 2003, it was the first time the property had traded since the 1920s.

He bought Marara from the estate of the late gynaecologist Meg Mulvey, who died in 2001.

The Vaucluse home of Murray and Serena Crawford sold before auction.

Her gynaecologist husband, Sir Herbert Schlink, who died in 1962, built the original stone and timber residence on the property during the 1920s.

With more than 119 metres of pristine sandy beach front, Marara covers gently sloping grounds with a perfect northerly aspect, substantial boathouses and a deep-water jetty.

Secret business

This Castle Cove property has sold for more than $3 million. The last time it was on the market, in 1978, it fetched $220,000.

One of this week's highest-priced sales is the magnificent Vaucluse home of globetrotters Serena and Murray Crawford.

The Hopetoun Avenue residence was scheduled for auction on Monday evening, but a deal was stitched up on Sunday by agent Alison Coopes, who could not reveal the price due to a confidentiality agreement - however, locals tip it sold for about $5.5 million.

Architect Bruce Stafford remodelled the three-level house after it last traded for $4.29 million in December 2009.

On Ewart Street in Dulwich Hill, historic Gladstone Hall is expected to sell for more than $2.4 million.

With distinctive interior design by Serena Crawford, it stands on a private 645-square-metre block with northerly harbour views, tropical gardens and a pool.

Gough's other lodge

The Darling Point home of Gough Whitlam, Australia's 21st prime minister, and his late wife, Margaret, also sold this week.

The Paddington residence owned by Billy Birmingham and Annabel Birmingham.

On the second floor of a 1970s building in Marathon Road, the apartment had been the Whitlams' home since 1975.

With northerly views across Double Bay, the three-bedroom apartment sold for $1.35 million 10 days before its scheduled auction through McGrath agents Ben Collier and Bernadette Berlyn.

The Whitlams moved to the three-bedroom apartment from The Lodge in Canberra after Gough's term ended when his government was dismissed by the Governor-General on November 11, 1975.

The former prime minister now resides at Lulworth, the St Luke's aged care facility in Elizabeth Bay.

Margaret Whitlam, who played an important role as a political and prime ministerial wife, died in March.

Just keep fishing

A Double Bay residence owned by a former deputy chief executive of National Australia Bank, Michael Ullmer, and his wife, Jenny, was withdrawn from auction on November 3.

The Bay Street property, which was listed with price hopes of more than $8 million during its marketing campaign throughout October, now is for sale at $9 million through Sydney Sotheby's International Realty agents James McCowan and Michael Pallier.

Built as a humble fisherman's cottage in the mid-1850s, the house was renovated substantially during the 1950s by the renowned architect Professor Leslie Wilkinson.

In 1989, it was renovated again by architect Espie Dods. The Ullmers, who now live mostly in Melbourne, bought the house for $5.82 million in 2002 from Ray White real estate agency mogul Brian White and his wife, Rosemary, who paid $1,897,625 for it in 1991.

Super property that

At Paddington, the home of satirist Billy Birmingham and Annabel Birmingham is set for auction on November 28 through Sally Hampshire of Laing+Simmons Double Bay.

Expected to sell for more than $2.4 million, the circa-1870s, three-storey stone-and-brick residence stands on a 385-square-metre block near Five Ways.

The Glenmore Road property also includes a shop on a separate title. Birmingham, who's also known as The 12th Man (a reference to the non-playing reserve in an 11-player cricket side), is renowned for his impersonations of cricket commentators Richie Benaud, Tony Greig and Bill Lawry.

Check the Hall

Gladstone Hall, a historic sandstone house at Dulwich Hill, is listed for sale by expressions of interest closing on December 7 through the principal of Jennifer Aaron Real Estate, Jennifer Aaron.

Owned by Haitham El-Hassan, the owner of H&M Finance, and Malcolm Day, the senior human resources business partner at Macquarie Telecom, Gladstone Hall is expected to sell for more than $2.4 million.

Of palatial proportions, the house was built in 1870 for William Starkey, a cordial and soft-drink magnate, using sandstone believed to have been quarried on site.

Set on a 667-square-metre block in Ewart Street, the four-bedroom house has formal and informal sitting and dining rooms and a gourmet kitchen.

In 2007, the house received Marrickville Council's People's Choice Award for renovation.

Castle in the sky

At Castle Cove, a circa-1964 house on a vast 1650-square-metre block in Headland Road, has sold for more than $3 million through Neil Adam of Adam First National.

Last traded for $220,000 in 1978 when bought by the Fitzsimmons family, the sprawling four-bedroom, four-bathroom modernist house is set on a bend high above Middle Harbour.

Occupying one of the best positions in the suburb, the property has magnificent, leafy district and water views stretching to Roseville Bridge and across a section of Garigal National Park.

17 comments so far

I know hippies with better shacks that this in nicer places, worth $1,2 to $1.5 Million at absolute best and the mortgage kings and queens are asking $25 Million?, go figure!.

How dumb stupid and gullible a MEGA MORTGAGE MUG would you have to be?.. look around the World mate, GAMES OVER!.

When are the Aussies going to see through theses property scams for fools?, see dictionary for details no less, clearly this scam is on its last legs, as I say, how financially DUMB would you have to be to be still overpaying 80% for dumps n faraway places at the Zenith of a property bubble just as the slide/crash is setting in?... really, just how dumb would you have to be?.

http://www.urbandictionary.com/define.php?term=mega%20mortgage%20mug

Commenter

cricket

Location

Date and time

November 10, 2012, 1:56PM

I have a beach house on clarevile beach. If you can find a nicer spot in OZ i would be happy to know about it. Northern beaches is a lifestyle thing. Sailing, fishing, surfing, diving for crays, eating, reading and sleeping. 45 minutes to the city non peak times. Once you go past the bilgola bends you enter another world.

Commenter

Avalon

Location

Date and time

November 12, 2012, 9:37AM

Hmmm. Buy for $10M and then selling for $25M ten years later for a $15M tax free gain. Or if they only manage $20M it's a $10M gain. Yes a mugs game indeed.

Commenter

Another Steve

Location

Date and time

November 12, 2012, 10:40AM

Obviously the punters wouldn't cough up the $40m requested. Now it's at $25m and is being advertised here. Will someone bite the cherry or will they have to discount it further? Will the developers..I mean future purchasers come in and build the residences or will the neighbours fight it tooth and nail? If the place is so good then why is it being sold?

Commenter

Bennopia

Location

Date and time

November 12, 2012, 11:55AM

Yes cricket, how smart of those morons who have sitting and waiting nigh on SEVEN years for this "bubble" to burst. 7years in which I have made a small fortune and can pay my house off tomorrow if I wanted to sell one of my inner city apartments, which I don't coz they increase in value before my eyes and genius people like you pay them off for me. Ohhhh, posting a link, how original, I'll run out tomorrow and whack the for sale sign up in a panic. There used to be a guy who wrote daily, haven't heard from Ed in years now, swearing "tipping point Q1 2008 prices will go thru the floor". I think he even sold up so he could buy his places back at half price. Mmmm, wonder where he is now. No doubt renting some dump crying over what he's lost and how stupid he made himself look. When you grow up you will be doing the same. Notice "for sale" signs aren't up for long? Supply and demand. Love renters tho, they made my retirement come so much sooner and I thank them dearly. I'm sure the bubble will burst any day now, keep waiting and renting, it's the smart choice.

Commenter

Anne

Location

Date and time

November 12, 2012, 11:45PM

Well,live in a lovely 2 bedroom home with a pretty garden in the Blue Mountains. I have no desire to live anywhere else. As far as I'm concerned people who spend millions on a house are nuts.

Commenter

Happy

Location

Date and time

November 13, 2012, 9:23AM

And still they persist with the confidentiality agreements. Sooo precious. All details about all real estate transactions are a matter of public record. In a few weeks' time it's all available from the Land Titles Office. You're not the only people to sell a house you know. They just don't want to be embarrassed about missing the price they wanted lat year by 20%. Poor dears.

Commenter

TimeBandit

Location

The future

Date and time

November 10, 2012, 3:38PM

I guess they figure it prevents columns like this from broadcasting the price to all and sundry?

There's a difference between something being available from the LPI for a fee (albeit small) in ~7 weeks and something being published in a semi-national newspaper just after the event.

But yeah, anyone with a specific interest will be able to establish what the price was after the documents are registered.

Commenter

HM

Location

Date and time

November 12, 2012, 9:22AM

@HM

try onthehouse.com.au - "broadcasting the price to all and sundry"

it doesnt take long after settlement either!

Commenter

paul

Location

sydney

Date and time

November 12, 2012, 1:31PM

And?

Like I said, it still prevents it from featuring in national newspapers, attached to their names.